Accountable and Reportable Institutions are subject to inspection to assess their level of compliance with the Financial Intelligence Centre Act...
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The FIC 2019/2020 Report
Accountable and Reportable Institutions are required to report suspicious transactions and activities to the FIC, as well as cash transactions over...
FIC Registrations Increase
All institutions identified as accountable (schedule 1) and reporting (schedule 3) under the Financial Intelligence Centre Act (FICA) are obligated...
Understanding, Identifying and Working with DPEPs and FPEPs
In a recent blog we took a look at The FIC Amendment Act of 2017 (FICAA) and highlighted key concepts which changed from when the Act came into...
Common Terms Relating to the FIC Amendment Act and What They Mean
“According to The FIC Amendment Act (FICAA), AIs must follow an RBA when managing risks related to ML and TF” We understand that getting to know and...
From FICA to FICAA – Are You Still Not Sure What Has Changed?
By now we all know about or have been affected by FICA, The Financial Intelligence Centre Act, 38 of 2001, which came into effect on 1 July 2003....